Aishwarya Telecom – Startling Debut

May 7, 2008

Aishwarya Telecom stock debuted at Rs 50.10 on BSE, a premium of 43.14% over its issue price of Rs 35. The stock hit a high of Rs 76.90 and a low of Rs 50.10 so far during the day.

Aishwarya Telecom had fixed the issue price at Rs 35 per equity share for its with initial public offering of 40 lakh shares. The initial public offer of Aishwarya Telecom was subscribed around 20 times.

Aishwarya Telecom mainly supplies its products to major telecom operators. The company also manufactures products for telephone service providers, defence sector, railways, telecom equipment companies and cable TV operators. It also exports cable fault locators to France, Taiwan, Czech Republic and Dubai.